News · Commerce & Consumer Brands

Zepto files to move headquarters from Singapore to India

By Startup Enthusiast · 20 March 2024

What they do

Zepto is a quick commerce platform delivering groceries and essentials rapidly

The startup is in final stages of relocating its legal base to India

This reverse flip trend aims for higher valuations and lower tax burdens

Zepto is in the final stages of filing an application to relocate its headquarters.
The company is moving its base from Singapore back to India.
Zepto is selecting the most tax-efficient option for this relocation process.
The relocation plan has been in the pipeline for several months.
This move aligns with a broader reverse flip trend among Indian startups.
Companies like Pine Labs and Meesho are also moving their bases to India.
Indian-origin companies face hefty levies if domiciled in the US or Singapore.
The tax quantum depends on valuation determined by a third-party audit.

Domestic public markets offer higher valuations compared to foreign markets.
Relocating helps avoid significant tax liabilities associated with foreign domicile.
This strategy optimizes financial structure for future growth and listing.

Product: A rapid-delivery app for groceries and everyday essentials.
Customers: Consumers ordering groceries and essentials online.
How it makes money: It earns from product margins, delivery fees, and order-value thresholds across its quick-commerce network.
What sets it apart: It was built as a quick-commerce native company from day one.
Operations: Operates dark-store based 10-minute delivery across multiple Indian cities.